RRP Electronics Ltd. has announced that the Government of Maharashtra has approved its Rs.24 billion mega semiconductor project in a recent cabinet meeting. This project, set to be implemented in two phases, will mark Maharashtra's entry into the semiconductor manufacturing industry. RRP Electronics will establish its first Outsourced Semiconductor Assembly and Testing (OSAT) facility in a 40,000 sq.ft. area at Mahape, Navi Mumbai. This cutting-edge, fully automated facility is expected to be operational by September 16, 2024. Additionally, the company will expand its operations by setting up new production lines at its upcoming plant in MIDC, Taloja, scheduled to be operational within the next two years. The project, recognized as a megaproject by the state, benefits from the semiconductor policies adopted by both the Central and Maharashtra governments, which include subsidies covering the entire investment. The company has partnered with HMT Zurich, a leading design company, to support its semiconductor manufacturing endeavors. We are delighted that our semiconductor manufacturing project has been recognized as a megaproject by the Government of Maharashtra, said Rajendra Chodankar, Chairman of RRP Electronics Ltd. Our OSAT facility will be the first of its kind, featuring machinery sourced from major semiconductor hubs across the globe. Initially, we will supply semiconductor chips to our partner, HMT Zurich, and are in discussions with other major industry players. This project underscores Maharashtra's commitment to becoming a key player in India's semiconductor industry, fostering technological advancement and economic growth in the region